Earlier today, Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) added to its ETH holdings, as on-chain data reveals that the firm purchased another 46,225 tokens, increasing its total ETH holdings to over 2.1 million ETH.
The New York Stock Exchange-listed (NYSE) firm has been on an ETH buying spree all summer. Following today’s purchase, its total ETH holdings have now surged above 2.1 million, worth approximately $9.27 billion at the time of writing.
It is worth highlighting that BitMine currently holds the largest amount of ETH among all public companies. According to data from Coingecko, SharpLink is a distant second on the list, with 837,230 ETH on its balance sheet.
Other firms like Coinbase (136,782 ETH), Bit Digital (120,306 ETH), and ETHZilla (102,246 ETH), round up the top five holders of ETH. Notably, nine out of the top ten firms holding the most amount of ETH are US-based.
Following today’s purchase, BitMine’s stock BMNR is trading at $47.85, up 4.93% on the day. On a year-to-date (YTD) basis, the stock has jumped a whopping 559%, making it one of the best performing crypto-related stocks this year.
As an increasing number of firms embrace ETH as the digital asset of choice, attention has been steadily moving away from the largest cryptocurrency by market cap, Bitcoin (BTC). However, this does not mean that ETH has completely displaced BTC.
